Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Bought by MCF Advisors LLC

MCF Advisors LLC grew its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 65.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,864 shares of the company’s stock after buying an additional 740 shares during the quarter. MCF Advisors LLC’s holdings in Grid Dynamics were worth $41,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Harbor Capital Advisors Inc. grew its stake in Grid Dynamics by 10.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company’s stock worth $242,000 after purchasing an additional 1,036 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Grid Dynamics during the third quarter worth about $8,589,000. Barclays PLC increased its stake in shares of Grid Dynamics by 173.8% during the third quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after buying an additional 70,579 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in Grid Dynamics by 35.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 107,738 shares of the company’s stock valued at $1,508,000 after acquiring an additional 28,438 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Grid Dynamics by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after acquiring an additional 17,763 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.66, for a total value of $70,640.00. Following the transaction, the chief financial officer now owns 376,282 shares in the company, valued at $6,645,140.12. The trade was a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 13,000 shares of company stock worth $247,220 in the last 90 days. 7.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup raised their price target on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC raised their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.33.

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $21.31 on Thursday. The stock’s 50-day moving average is $19.78 and its two-hundred day moving average is $16.02. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $24.16. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 710.57 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. As a group, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current year.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.